MKT 571 Team B week 2 Version 6
New Product Launch Marketing Plan, Part I
Linda Hofferek, Kevin Kuss, Cecilia Lee, and Carlton Yates
Marketing
MKT 571
June 01, 2015
Dr. Cathy Chen
New Product Launch Marketing Plan, Part I
Kevin’s four-year-old daughter kept rolling off her “big girl” bed and in his review, the only railings available at a reasonable price were unstable, unsafe and unreliable. Kevin’s search for a practical yet affordable bed railings lead him to the idea of Safe Haven Sleep System (SH2S) as the new product line for Safe Sleep Products Inc.
The following marketing plan is the foundation for the creation of the Safe Sleep Products Inc.'s product launch for both domestic and international markets. Through careful research of international markets, Team B compared the market in the U.S. and England to introduce this new product based on market needs and growth. This marketing plan will analyze the market situation using SWOT Analysis, potential competition, product offering and product definition, product identification and justification, as well as a 10-question Likert type survey to evaluate the consumers’ attitudinal and buying behavior.
Market needs
The need to keep our children safe from falling out of bed and sustaining injury or death is important to all families. The number of accidents involving children who fall out of the bed accounts for 1.8 million visits to the emergency room and the more serious involves over 400,000 hospital admissions including 450 deaths in the United States each year. The accidents not only affect the United States but globally as well. In England, the number of hospital admissions due to falls has increased. The number of admission to hospitals in England exceeded 450,000 which are comparable to the United States (Home Safety, n.d.). These numbers are increasing which is causing a greater need for child safety. In addition to the emotional effect a fall can have on a family, the increased cost to insurance companies,
Linda Hofferek, Kevin Kuss, Cecilia Lee, and Carlton Yates
Marketing
MKT 571
June 01, 2015
Dr. Cathy Chen
New Product Launch Marketing Plan, Part I
Kevin’s four-year-old daughter kept rolling off her “big girl” bed and in his review, the only railings available at a reasonable price were unstable, unsafe and unreliable. Kevin’s search for a practical yet affordable bed railings lead him to the idea of Safe Haven Sleep System (SH2S) as the new product line for Safe Sleep Products Inc.
The following marketing plan is the foundation for the creation of the Safe Sleep Products Inc.'s product launch for both domestic and international markets. Through careful research of international markets, Team B compared the market in the U.S. and England to introduce this new product based on market needs and growth. This marketing plan will analyze the market situation using SWOT Analysis, potential competition, product offering and product definition, product identification and justification, as well as a 10-question Likert type survey to evaluate the consumers’ attitudinal and buying behavior.
Market needs
The need to keep our children safe from falling out of bed and sustaining injury or death is important to all families. The number of accidents involving children who fall out of the bed accounts for 1.8 million visits to the emergency room and the more serious involves over 400,000 hospital admissions including 450 deaths in the United States each year. The accidents not only affect the United States but globally as well. In England, the number of hospital admissions due to falls has increased. The number of admission to hospitals in England exceeded 450,000 which are comparable to the United States (Home Safety, n.d.). These numbers are increasing which is causing a greater need for child safety. In addition to the emotional effect a fall can have on a family, the increased cost to insurance companies,